“Maximum wage” must be added to the American lexicon. A minimum wage of $15-20/hr will be helpful but ONLY as long as current prices of essential goods and services remain the same or are reduced. Hourly wages have remained almost stagnant over the last 40 years. After adjusting for inflation, wages are only 10 percent higher in 2017 than they were in 1973, with annual real wage growth just below 0.2 percent.
Wages have remained virtually unchanged for middle-class Americans over the last 40 years and yet most Americans have an increasingly harder time “making ends meet”. Their hard-earned dollar buys less and less each year. Why? Because PRICES of goods and services are raised as the DIRECT result of over-compensation of GREEDY people who control the costs of such goods and services. Over-compensation raises the cost-of-living, unfairly, for everyone else.
Minimum Wage History
A current, good example is the rise in the cost of healthcare in the U.S. – The United States spends almost twice as much on health care, as a percentage of its economy, as other advanced industrialized countries.
As discussed in a NY Times article entitled “Why the U.S. Spends So Much More Than Other Nations on Health Care” by Austin Frakt and Aaron E. Carroll dated
IT’S THE PRICES, STUPID!
“The U.S. just isn’t that different from other developed countries in how much health care we use. It is very different in how much we pay for it.”
The costs of healthcare are spread across many sectors of the industry including doctors, hospital administration, healthcare insurers, pharmaceutical corporations and many others. COSTS means COMPENSATION. High costs means high compensation. There are NO OTHER COSTS except compensation! Doctors take exorbitant salaries – hundreds of thousands, even millions of dollars a year!
Healthcare insurers, hospital administrators, pharmaceutical companies, and their “executives” are given huge American taxpayer SUBSIDIES to finance their “non-profit” organizations and take grossly exorbitant salaries – 99% of these people are in the “1%” of Americans. These unfair, greedy compensation costs contribute directly to the cost of every aspirin, every hospital expense, all medicine, everything related to the healthcare industry.
American taxpayers should NEVER have to SUBSIDIZE greedy people. Greed is bad – everyone knows this! If a doctor chooses to be greedy that is his or her choice. But NOT with taxpayer’s money! Why would we want to pay our hard-earned taxes to subsidize greedy people exorbitant salaries – far, far beyond “what they need” like the other 90% of Americans living very well on $100K/yr or less – and then go to a doctor or hospital and have to pay exorbitant prices for goods and services that OUR taxes paid for?!?
As the result of paying unfair greedy salaries – with OUR taxpayer dollars – the costs of everything goes up, unfairly, and our dollar buys less and less while, at the same time, our wages never go up proportionately.